Joseph P. Adams Jr. - Nov 1, 2022 Form 4 Insider Report for Fortress Transportation & Infrastructure Investors LLC (FTAI)

Role
CEO and Chairman, Director
Signature
/s/ Cameron MacDougall, as Attorney-in-Fact
Stock symbol
FTAI
Transactions as of
Nov 1, 2022
Transactions value $
-$26
Form type
4
Date filed
11/2/2022, 04:17 PM
Previous filing
Aug 10, 2022
Next filing
Nov 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction FTAI Common Shares Options Exercise $750K +57.5K +28.4% $13.04 260K Nov 1, 2022 Direct
transaction FTAI Common Shares Options Exercise $1M +68.7K +26.41% $14.56 329K Nov 1, 2022 Direct
transaction FTAI Common Shares Tax liability -$1.75M -99.4K -30.21% $17.62 230K Nov 1, 2022 Direct F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction FTAI Stock Option (right to buy) Options Exercise $0 -57.5K -100% $0.00* 0 Nov 1, 2022 Common Shares 57.5K $13.04 Direct F2, F3, F4
transaction FTAI Stock Option (right to buy) Options Exercise $0 -68.7K -100% $0.00* 0 Nov 1, 2022 Common Shares 68.7K $14.56 Direct F2, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 No shares were sold. Reflects deemed surrender of shares to satisfy the exercise price due upon exercise of the associated options.
F2 When tandem awards are granted with respect to manager options, the manager options become exercisable in monthly installments over a portion of the Total Exercisability Period equal to the product of (i) the ratio of tandem awards to the total number of related options (including options underlying such tandem awards) multiplied by (ii) 30 (such period, the "Manager Exercisability Period"). Following the Manager Exercisability Period, the tandem awards vest in monthly installments on the first of each month over the remainder of the Total Exercisability Period and become exercisable only at the end of the Total Exercisability Period.
F3 Tandem awards correspond on a one-to-one basis with options granted to FIG LLC, the Company's manager (or an affiliate of the Company's manager), such that exercise by an employee of the tandem award would result in the corresponding option held by the manager being cancelled. Upon the grant of options to the manager (or an affiliate), such options are fully vested and become exercisable over a 30-month period (the "Total Exercisability Period") in monthly installments beginning on the first of each month following the month in which the options were granted. (Continued in Footenote 3)
F4 Represents the expiration date of the related manager option. In general, the expiration date of the tandem award occurs prior to the expiration date of the underlying option.